Disallowance on basis that ESOP expenses is contingent in nature cannot be sustained

Goldman Sachs (India) Finance Pvt. Ltd. Vs Assessment Unit (ITAT Mumbai) ITAT Mumbai held the disallowance on basis that the ESOP expenses is contingent in nature cannot be sustained. However, amount claimed as expenditure, the basis of allocation of ESOP cost by GSGI etc., needs to be factually examined. Hence, matter remanded. Facts- The assessee is a private limited company and is a non-deposit taking non- banking finance company (NBFC). The case was selected for scrutiny and the statutory notices were duly served on the assessee. AO completed the assessment by making disallowance of deprec...